How to Sell a House By Owner in North Dakota: 9 Steps to Closing
Discover how to sell a house by owner in North Dakota with our 9-step guide. Learn what FSBO pitfalls to avoid and see other selling options.
Learning how to sell a house by owner in North Dakota (FSBO) might seem like a practical way to avoid real estate agent commissions and keep more of your sale proceeds. However, the FSBO route comes with its own set of challenges — accurately pricing your property, attracting serious buyers, and navigating the legal and financial aspects of the sale.
While skipping an agent might save you some money, homes sold with professional representation tend to sell for higher prices, often offsetting or surpassing commission costs. According to the National Association of Realtors (NAR), FSBO sales account for about 6% of total transactions, and nearly 40% of those are between sellers and buyers who already know each other.
For some ambitious North Dakota homeowners, the appeal of selling by owner presents an exciting challenge. If you’re ready to tackle the FSBO process, this guide breaks down the steps to selling a house by owner in North Dakota. Along the way, we’ll also outline the risks, provide helpful tips, and suggest alternatives to help you maximize your home sale.
How Much Is Your North Dakota Home Worth Now?
Home values in North Dakota have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.
Editor’s note: No matter how you decide to sell your home, if you’d like to consult with a top agent first, HomeLight can connect you to highly-rated professionals in your North Dakota market. Transaction data shows that the top 5% of agents sell homes for 10% or more than average agents.
Why sell a house by owner in North Dakota?
For some North Dakotans, selling by owner offers the appeal of saving money on real estate agent commissions. By selling the property yourself, you can avoid Realtor fees. However, your actual savings may be less than you think.
How much money might you save? A 2024 court settlement by the National Association of Realtors (NAR) helps clarify what you can expect. Historically, home sellers paid about 6% of the sale price to cover both the listing agent and the buyer’s agent fees, but the settlement shifted half of this responsibility. Buyers now handle their own agent commissions.
This means North Dakota FSBO sellers might save around 3%, which may be less than sellers might expect. However, selling by owner can still be an attractive venture if you’re excited about the challenge. It can allow owners more control over the sale and provide a sense of satisfaction.
Before diving in, let’s take a quick look at the pros and cons of selling a house by owner in North Dakota.
Pros of selling a house by owner
- Save on agent fees: You could save up to 3% on commissions.
- Greater control: Manage pricing, showings, and negotiations directly.
- Direct communication: Work directly with buyers without intermediaries.
Cons of selling a house by owner
- Lower sale prices: FSBO homes typically sell for less than agent-assisted homes (see data below).
- Time-consuming: You’ll handle all the work, from marketing to contract negotiations.
- Pricing difficulties: Mispricing can lead to financial loss or prolonged market time.
- Marketing costs: Professional photos, staging, and ads will come out of your pocket.
- Legal risks: Errors in disclosures or paperwork can lead to costly issues.
- Possible safety risks: You may be showing your home to unvetted buyers.
Fewer proceeds may erase potential savings
According to data collected by the National Association of Realtors (NAR), FSBO homes sold at a median price of $380,000 last year, compared to the median selling price of all homes, which was $435,000. This means many DIY sellers in the U.S. are possibly sacrificing $55,000 in proceeds in their quest to save $13,000 in commission fees.
In other words, a FSBO seller may forfeit a 14.5% increase in profits to save 3% in Realtor fees.
